UK high street giant Next is reportedly in “advanced talks” to buy lifestyle retailer Cath Kidston.
Next, whose portfolio already includes Made.com and Joules, could make a deal as early as Tuesday, Sky News reports. Banking sources said an agreement was likely but not certain, according to the report.
It follows reports in February that current Cath Kidston owner Hilco Capital, which specialises in aiding struggling retailers, was looking to sell the retailer just eight months after buying it from Baring Private Equity Asia (BPEA).
BPEA rescued Cath Kidston from administration in 2020, which resulted in the loss of nearly 1,000 jobs.
The rescue resulted in the closure of Cath Kidston’s physical store estate in the UK, though the company still operates a number of locations in Saudi Arabia.